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20121129
20121207
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FBC 19
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Search Results 0 to 49 of about 50 (some duplicates have been removed)
PBS
Dec 4, 2012 4:30pm PST
and spending cuts hit, president obama today said he's still optimistic a deal will be done and he's willing to compromise, but negotiations just aren't there yet. >> it's going to require what i talked about in the campaign, which is a balanced, responsible approach to deficit reduction that can help give businesses certainty and make sure the country grows. >> tom: the president rejected the proposal republicans presented him yesterday. it would cut the debt by $2.2 trillion over ten years, but would not raise taxes on america's highest earners, the biggest sticking point. the two sides seem to be allowing themselves room to bargain. the president said today he'd be open to lowering tax rates for high earners later next year as part of a broad tax reform package. and senate republican leader mitch mcconnell did not directly endorse the g.o.p. plan. for now, house speaker boehner put the ball in the president's court, releasing a statement: "the president now has an obligation to respond with a proposal that can pass both chambers of congress." >> susie: we turn tonight to other opinions on
PBS
Nov 30, 2012 4:30pm PST
speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: t psidents oposg to raise taxesy $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it's... i
PBS
Nov 30, 2012 7:00pm PST
cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it's... it's... was not a serious proposal. and so, right now, we're almost nowhere. >> reporter: across the capitol, republican senate leader mitch mcconnell told the "wall street journal" his party would be willing to bring in more tax revenues if the president agreed to tighten up the eligibility requirements for entitlements. mcconnell said that could mean higher medicare premiums for the wealthy, an increase in the medicare eligibility age and slower cost-of-living increases for social security. but he ruled out higher tax rates. most democrats have ruled out all of those cuts, arguing they would undermine the nation's most successful programs. the president asked for, but it appears republicans would be unlikely to agree to gi
FOX Business
Dec 3, 2012 11:00am EST
of negotiating a tax cut, and president obama gets to negotiate a tax cut with republicans, a lot more fun and easier to do than tax increases. i don't know they get more leverage in the new year with the possible exception that the fact that, you know, the debt ceiling will loom again, hitting that debt ceiling giving republicans some leverage down the road, but in the short term, you're right, the leverage goes more to president obama right now. >> i have fiscal cliff fatigue. thank you very much. >> sure. tracy: we all do, dennis, but we have to talk about it because congress has to deal with it. we have a new gallup poll showing 5 # 4% of the voters rate the honesty of members of congress below that of used car salesmen. dianne black of tennessee joins us from the home state to hear what the constituents are telling her. what are con constituents sayin? >> well, you know, i'm hearing -oth from my individual constituents and business owners they are really concerned about the spending problem in washington. that's not really talked about. there's a lot of focus on the other side, but th
FOX Business
Nov 30, 2012 4:00pm EST
movement on the cutting of spending either. peter: president obama and john boehner in front of cameras to make their cases in the battle over the fiscal cliff. the speaker said he is willing to move forward with negotiations in good faith after republicans rejected the president's first formal offer yesterday as being short on spending cuts, but it doesn't sound like anyone has put the brakes on the road to the coin. >> let's not kid ourselves. i am not trying to make this more difficult. i have been very guarded. i don't want to make it harder for me or the president or members of both parties to find common ground. >> this is not some run-of-the-mill debate, not about which political party can come out on top in negotiations and all of us get out of our comfort zones to make that happen. i am willing to do at and i am hopeful enough members of congress in both parties are willing to do that as well. >> the president's plan repeat his demand for $1.6 trillion over ten years on families making $250,000 a year and includes $400 billion in cuts, savings in medicare and medicaid and other
FOX Business
Nov 30, 2012 11:00am EST
. it is a matter of how you do it. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other problem is, you know, to your point, when you talk about, let's say you use the word tax reform, what does that mean, they will deal with either the mortgage deduction, the charitable deduction or the state tax deduction. think about how that affects the behavior of individuals. that is all coming down the road. that will come and it talked about exterior. it really affects people's behavior. connell: robert, always great stuff. thank you. we do have a little piece of breaking news that wave want to pass along. lottery officials are telling us that the mechanic and his wife are the missouri win
FOX Business
Dec 5, 2012 7:00pm EST
at is people, perhaps, moving to get ahead of the obama administration's new and highly unattractive tax plan for investors. big winners on the day, financials, citi group stock up after announcing they are laying off 4% of the work force, cutting cost, bank of america and travelers example of the financialses moving higher. marathon, chevron, conoco all higher. crude oil down for a second straight day closing under 88 a barrel, and ten year treasury down to 1.59%. no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we turn to fox news chief white house correspondent ed henry for the report. >> trying to lay blame for stalled budget talks on republicans, pre
CNBC
Dec 5, 2012 3:00pm EST
owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with on
FOX Business
Dec 5, 2012 4:00pm EST
: president obama met with ceos head of the looming deadline for tax cuts and spending cuts. david: a fiscal deal could be reached in a week. rich edson with the latest. it was an off the record meeting. this is a meeting that affects all of us. speak of the business roundtable says all the meetings are off the table and they have the initial remarks live and available to the press. in that the president did say we could settle this issue in a week if republicans relent on their position for taxes. offering $800 billion in tax revenue, coming from only closing loopholes and seductions, no to a tax rate increase for the president says it is making $250,000 or more, tax rates are going up. >> we will not raise them just out of spite, but rather because the need to raise a certain amount of revenue. >> the president doesn't agree with our proposal and our outline, think he has an obligation to send one to the congress. and a plan that could pass both chambers of commerce. if you look at the plans the white house has talked about thus far, they couldn't pass either house of the congress. >> high
FOX Business
Nov 28, 2012 7:00pm EST
selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax revenue on the negotiating table , and some republicans have flat out repudiated their anti-tax increase pledge. the author of that pledge, grover norquist, here and we will ask him how it is that he came to be the villain in this piece, how it feels to be the subject of attacks from both the left and some on the right and what the future holds for those republicans who break their pledges to voters. also tonigh
CNBC
Nov 30, 2012 4:00am EST
. >> president obama will continue to press republicans to let tax cuts expire for people make more than $250,000 a year. reports say the president's opening wid in budget talks calls for $1.6 trillion tax increase. that plan whether he had to sharp comments from both sides of the political aisle. >> now is the time for republicans to you've past this happy talk about revenues ill defined of course and put specifics on the table. the president has made his proposal. >> what we don't know is what the white house is willing to do it get serious about solving our debt crisis. >> if more, we're joined by mark zandi, chief economist at moody's analytics who is here in london. welcome. >> thank you. >> so the fiscal cliff issue, end of the year is looming. we saw the response to this opening gambit by president obama. how likely is it that this is the final plan put forward, what elements do you expect to be most critical here as talks continue? >> i think there will be a lot of brinkmanship. this is just the beginning of the process. i think it will be a while. we'll probably go into next year and
CNBC
Nov 29, 2012 1:00pm EST
, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track for the third straight monthly loss. what's really made the
CNBC
Nov 30, 2012 3:00pm EST
the problems. good to have you both with us. thanks for joining us. seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't, like you said, take the knife to fundamental programs like medicare and social security. the president's plan is the plan he presented to the american people and won the election on. certainly, the plans they would cut or fundamentally restructure medicare, those proposals -- >> i don't think that's what we're talking about, seth. >> does that do anything to the debt? >> that's a great question, maria. that's the biggest challenge with this proposal that the president put out. he's actually talking about new spending. additional payroll benefit
FOX
Dec 6, 2012 7:00am PST
department jobs that could be lost if automatic trick -- automatic tax cuts are formed. >>> bill clinton says he's not sure if hillary clinton will run for president. she said she does not want to continue a secretary of state for president obama's second term. she said she wants to focus on issues to -- that are important to women. >>> let's see what tara is seeing on 880. >> we have a lot of traffic on pinole and then past the golden gate gate. we're in berkeley/emeryville. we have a traffic issue in here. 280, northbound towards santa clara, looking pretty bad. give yourself extra time. let's check in with steve. >>> tara, thank you. there's definitely some breaks in the clouds. jive seen gusts to 25 miles per hour. i dent think this -- i've seen gusts to 25 miles per hour. i don't think this -- this breeze can helpster things up a little bit. still some low clouds around. i'm seeing breaks in the clouds for san jose. kind of a cooler pattern with the northwest wind. mostly sunny, though, today, no rain except we're done for a while. in fact, as the pattern changes here, even the higher cl
CNBC
Dec 4, 2012 6:00am EST
, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i would suggest to you the states that are doing better economically have a constitutional amendment that requires them to balance their budget. so, we had to deal with that in the early 2000s. and interestingly, it was the first time since the 19th century, since back about 1870, that there were all republicans, republican speaker, republican house, republican lieutenant governor, republican senate and myself, and we had run on the premise that we were going to treat government differ
WETA
Dec 6, 2012 6:30pm EST
for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour"
FOX Business
Dec 2, 2012 8:00pm EST
to be the one who raises taxes, but you're going to be the ones to cut medicare. if u want cuts in entitlements, but the mob. i'm not going to do bothfor you. lou: here is a thought. that is, the obama white house has made a rare mistake, miscalculation. they have incentivized republicans to say, you know, the heck with it. if you're not going to come to the table, we are not going to advance it. you have chosen and we have reached an agreement as to parties for sequestration. we will go along with e tax cuts. that's your decision. sequestration was part -- we are partners on that deal. let her rip. they're going to get twice as much in the way of spending cuts as an increase in taxes that way it's the best deal, and it's also oriented toward the republicans favored. >> the damage it will do to the economy. i don think the president has a bigger role as he thinks he is. the house will be held by republicans for the foreseeable future, not just two years. midterm elections, six years, sterile for the president. the end of theday he wants a legacy. it's going to be the highest unemployment in his
PBS
Dec 3, 2012 4:30pm PST
think will you see some kind of scaled in event of the of the 265 billion of bush tax cuts only 55 billion go to the wealthy. the other 210 billion go to the middle classment i don't think president obama wants to take that away. i can see him taking it away from the wealthy folks. but not the middle class. also, if you read president obama's book you get the sense that he not only wants to leave a legacy, he want to its leave an image of the greatest president of all time. an to do that you have to make major breakthroughs. and i lived in d.c. the only way to make major break throughs in d.c. is do what bill clinton did and reach across the table. >> susie: you know, bond the-- beyond the fiscal cliff and i know that say big issue hanging over the markets but there are also fundamentals going on as well. we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in
PBS
Dec 5, 2012 4:30pm PST
. citigroup announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion a year in expenses. but they won't be cheap, resulting in a billion-dollar charge against fourth-quarter earnings. is this gloomy news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other workers in the last few years. the thing is,
CNBC
Dec 3, 2012 4:00am EST
. they admitted that there has to be some revenue. meanwhile the obama team led by secretary geithner are comfortable with at least 2:1 what they would call entitlement cuts. so there was a lot of ground for a deal. unfortunately, i think the threats from some democratic leaders that maybe it's okay to go over the fiscal cliff, i'm worried some actually believe that and that's one thing that scares me. i think there's a deal on the table, get a few years deal, it's only if -- obviously the republican caucus could do something stupid, but owes otherwise my main word is the dems decide they want to play for a long term deal that it all has to be resolved right now and it's worth the risk and i don't think it's worth the risk. >> adam, always good to see you. thank you very much indeed. we move on, stay in the united states, strike at the port of los angeles long beach is entering its seventh day and some analysts fear it could cost the u.s. economy $1 billion a day. it means lost business for truckers and others who rely on the port for their livelihood. combined they are the nation's b
CNBC
Dec 5, 2012 1:00pm EST
but only 71 with enough swag to make the cut. here's the top ten led by the second-year running, president barack obama. the highest ranking female, angela merkel. then mr. putin of russia. bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who get together. we draw on a huge bank -- >> they always agree on everything. don't they? >> exactly. there is some subjectivity, i must admit. they talk about the number of people that someone influences. the amount of financial resources that they have. how many spheres they operate in, are they just financial or are tle political or philanthropic. the fourth criteria is do they act on their power, do they use their power. and if you look at -- >> that's the reason why bill gates would rank so high here is how he has used some of his financial power in the phil
FOX Business
Nov 30, 2012 1:00pm EST
. wells fargo securities analyst. thanks for being with us. >> sure, thank you. ashley: instead of cutting government spending ahead of the fiscal cliff president obama wants to raise it by billions of dollars. does tax-and-spend work? gerri willis will help us break it down. i have a feeling i think what she feels. tracy: yeah, really. look at some winners and losers on the s&p 500 as we head out to break. the dow is practically flat right now. advanced micro devices up 5%. costco. tiffany on the downside one of your losers, down 2 1/2%. we'll be right back. ♪ ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. if you're eligible for medicare, you might know only c% of your part b medical expenses. threst is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help pay some of the difference. and could save you in out-of-pocket medical costs. you'll be able to
CNBC
Dec 4, 2012 12:00pm EST
darden being very visible and cutting back their full-time workers less than 30 hours week so they don't have to pay for obama carism would say that is very, very interesting. watch for other companies to do it. otherwise the cost goes up for these food restaurant chains. >> a pop for puppies. many college students are looking for twice ease stress during final exams. one canadian university has gone to the dogs. starting today, dalhousie university in halifax, nova scotia, is throwing students a bone by providing a puppy room where students can destress among four-legged friends. although the idea may seem barking mad, organizers promise that simply pekt the dogs will help relieve anxiety. >> we need one for the "fast money" guys, petting, with dogs. >> move on. >> no comment. >> let's go somewhere else. >> seem marks help us. >> i'm here, guys have no fear. here's what's coming up next on the cnbc "fast money" show at 5 p.m. eastern. she was the most closely watched analyst at the height of the 1990s tech boom, today, mary meeker's tech predictions moving some of the biggest names. m
CNBC
Dec 5, 2012 4:00am EST
to be for the rising movie industry. cet will head out to washington as president obama is pushing forward his tax for the wealthy agenda. george osbourne is going to update today. the chancellor will have his work cut out to meet his target of eradicating the federal deficit by 2015 as well as securing a fall to gdp ratio. also expected further pressure with a cut to its growth forecast. steve is braving rather inclement british winter weather outside the houses of parliament. >> lovely. >> i know you like it. how much is it going to be raining on george osbourne's parade? >> it's going to rain on his parade. you just nailed it, ross. three things which are going to come up today, which he has very little control over. one is that obr reckoning on the uk economy. thought only back in march it was going to grow -- pain a negative growth for the year. next year they thought it was going to be 2% growth. it's probably only going to be 1%. in terms of those two targets you mentioned, eradicating the structural deficit in a five-year period, that's going to have another couple of years. >> right. now,
FOX Business
Dec 4, 2012 1:00pm EST
: president obama digging deeper on its fiscal cliff stopped earlier today saying we won't cut our way out of this deficit and it starts with raising tax rates on the wealthy but my next guest says this rhetoric could drive us right over that cliff. joining me now is douglas holtz-eakin, former director of the congressional budget office. and it -- you know your numbers, we know the fiscal cliff is going to have a huge impact if we go over it on this economy. before we get into the details are we in real danger of doing that? >> absolutely. this is an enormous heights in taxes, big cuts in spending, a hit to gdp that is 4% when we're growing and one.5, all the makings of a real problem and of fallout on consumer confidence will be severe. i think going over the cliff is unthinkable and something we should not contemplate. ashley: but the fundamental difference is the democrats say we have got to raise taxes on the top 2%. republicans putting forward their proposal saying revenue can be sorted through these deductions. is there any give? >> there has been some givee what they put out was no
CNBC
Dec 4, 2012 4:00am EST
as president obama. domestically it says a return to strong consumption is unlikely and that the rate cut is designed to foster growth in the local economy. wayne says he wouldn't be surprised to see a slight moderation in the growth numbers. the that's the latest from sydney. >> meanwhile qualcomm set to become a sizable shareholder in sharp. they're investing $61 million in struggling japanese lcd firm, but could double that if all goes well. the deal announced after the monthly close will see joint efforts on energy efficient smartphone displays. this will be through qualcomm subsidiary. sharp shares higher on reports that the deal would be announced up 1%. and cargo ships are stacking up offshore and the strike moves in to its second week. contract talks resumed on monday. the longest disruption of the busiest port since a ten day lockout in 2002. but this one is taking place after the busy pre-holiday shipping season. national retail federation has asked the president to intervene. facebook might be a stock to watch. here's a full preview. >> in the u.s., cars and housing are two are
FOX Business
Dec 3, 2012 3:00pm EST
't think you'll get that out of lew. he's very much aligned intellectually with president obama particularly on the notion of fairnesses. you know, you talk to economistses. should we really be raising taxes now? no. hour hour tax increases, we're going to lose the deductions -- >> probably shouldn't be cutting that much. the economy is like in a very weird state right now, kind of like i think the notion is to grow it now, you know? and, you know, this guy doesn't see that. he sees raising taxes not as an economic efficiency so to speak, but as you know, you don't get a lot of tax revenues out of that, but more as a fairnesses issue. and he's aligned with the president on that. so that's where lew is. lori: since we're handicapping cabinet positions, which bank or hedge fund do you think geithner ends up at? >> that's a good question. i haven't really asked. you know, i'm sure he's going the look to make money. the guyys been in government most of his life. i think he did a little work early on -- lori: how many years was he at the new york fed? >> i think eight, but i could be
CNBC
Nov 29, 2012 6:00am EST
in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situation where i think it was kennedy who always said don't let the perfect be the enemy of the good. they were in a much better bargaining position then than they are how. that's when 3 to 1 was still on the table. >> you can't get through it house. >> yes, but the conversation has changed. and you hear republicans who have even changed. >> one guy, cole. ron johnson will tell you it has not moved. >> there are a lot of republicans signaling, yes, they think the highest income rate will go up. >> but if you can't get through the house -- a lot of people now that think and i heard it the other night that if you give the deductions now, that they'll just do rates next year. so you might as well give rates now. >> although maybe buffett was right when he talked to us yesterday and said you can have some sort of agreement that looks reasonable f
CNN
Dec 3, 2012 2:00am PST
over that so-called fiscal cliff. tax hikes and spending cuts kick in if no agreement is reached between the house and republicans on how to close the budget gap. it has been more than two weeks since president obama invited the major players to the white house to discuss the situation. as of this morning, no new talks are scheduled. brianna keilar joins us. so many republicans say they are pessimistic about a deal happening in time to avert this fiscal cliff. some say it's for political reasons. what can you tell us? >> it may all be for political reasons. that's no surprise in washington. as you can seen through dealmaking not just on this but things in the past couple of years between the white house and congress, there is almost this rhythm that has evolved. both sides are pointing to the other for an impasse. republicans like senator lindeyy graham just slamming the white house and tim geithner for a plan he laid out on behalf of the administration, laying out about $1.6 trillion in new revenues coupled with only about $400 billion in medicare cuts. listen to what graham sai
FOX Business
Dec 5, 2012 11:00am EST
? connell: it is time for dennis and cheryl. some traders complain when president obama speaks the stock drops. the dow up 95. dagen: we just trademarked it, thank you. dennis: i am dennis kneale. cheryl: i'm cheryl casone. citigroup stock up. more cuts could be coming. dennis: friendly fire for housepainter. he is caving in to the president. we will talk to one of them straight ahead. cheryl: order a new tv on your phone, have it delivered that day. ebay launching a same-day delivery business. dennis: fedex, eat your heart out. nicole petallides at the new york stock exchange. the dow up despite the fiscal cliff phobia. nicole: we have been selling off for a couple of days. the dow down 75 points. we had a little bit of room to snap back and move to the upside. the vix fear index has moved lower at the moment. moving things along as well. watching the banking index and the drug index with a perilous. the nasdaq composite still cannot squeeze out a gain. the dow has significantly improved up three quarters of 1%. i wanted to take a look at one of the bank stocks, citigroup streamlining a
FOX Business
Dec 5, 2012 9:20am EST
of an effort to cut costs by 1.7 billion dollars per year. fedex stock, no change, 88 bucks a share. now joining the company from chicago is our next guest. the headline for the day is president obama has drawn a line in the sand, he says there isn't a deal on the fiscal cliff unless you raise tax rates on the rich, very important, tax rates on the rich. what do you make of that? >> well, first of all, in some ways, you have to say that the big spending, big government liberals are winning this debate, because they have reframed the entire discussion about revenues. listen, washington has a spending problem, and as long as we kind of misdirect this discussion and we only talk about taxes, then we never discuss any meaningful reform in entitlements. we never discuss spending. so from this standpoint, the left is absolutely winning this argument, because that's what you and i are talking about right now, tax revenue. there is not a revenue story. -- this is not a revenue story. it is a spending story. >> thank you, you are right sir, yet again. thank you very much indeed. let's bring in ki
CNBC
Dec 5, 2012 9:00am EST
, see? i'm ready for negotiation. put me on the team. i just did a lot of cuts that mean nothing. boy, how much did i save us over ten year. >>> thank you, rick. more santelli in the third hour. >>> still ahead, of course, live coverage of president obama's remarks on the fiscal cliff and the negotiations before the business roundtable. we'll bring that to you live in just a few minutes. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> with the internet streaming space, hey, there melissa, we're looking at netflix bouncing around based on comments from the chief content cipher but the stock took a bit of a hit when he said that netflix has to plans to cover the costs of the disney deal. nevertheless causing the stock to come off the best levels of the day.
CNBC
Dec 4, 2012 9:00am EST
and externally for a replacement. darden restaurants down sharply after cutting profit fx for the year. the company is blaming failed promotions generated by its tests to limit health care costs for workers. to the road map this morning. president obama meeting with governors from around the country on capitol hill right now to discuss how to keep the economy growing. we'll talk to two former governors. jim gilmore of havevirginia, gr davis of california, about the states and what they need from the government and how states might be affected by the fiscal cliff. plus, gamestop revamping its shopping strategy. the new game plan and what it will mean for the bottom line. then a special dividend parade on wall street. while they're good for shareholders, those dividends might be even benter for company executives. just how much ceos are set to collect thanks to those divs. and ink magazine has named its top company of 2012. how the business rocked its way to the top. but we'll start in washington. the president meeting with six governors around the country to discuss the fiscal cliff. ou
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